Report: Kalshi Warned of Possible Federal Charges Over New Contracts

A federal financial regulator has warned prediction-market company Kalshi that it could face charges over the way it submitted new contracts, according to a report published Tuesday.

The Commodity Futures Trading Commission is investigating whether Kalshi failed to properly notify the agency about dozens of planned products, a person with direct knowledge of the investigation told Politico.

The report said the private warning could lead to enforcement charges or a settlement. It did not announce that charges had been filed.

Kalshi spokesperson Elisabeth Diana described the matter as a procedural error involving a handful of contract submissions, many of which were not live. "We are already addressing the issue," she said.

Kalshi considers its products financial derivatives rather than wagers. The reported investigation concerns the contract-submission process, and the allegations have not been established in an announced enforcement case.